Caution Investors TLC Investments – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview of Regulation and Compliance of TLC Investments
TLC Investments is a company that claims to offer investment products such as stocks, bonds, commodities, forex, cryptocurrencies, and binary options. However, the ASC has warned that TLC Investments is not registered to trade in or advise on securities or derivatives in Alberta. The ASC also stated that TLC Investments has not filed any reports or disclosures with the regulator and that it may be involved in fraudulent or illegal activities.
The ASC advised investors to exercise caution when dealing with TLC Investments, and to check the registration status of any person or company offering securities or derivatives using the National Registration Search tool on the Canadian Securities Administrators website. The ASC also urged investors to report any suspicious activities involving TLC Investments to the ASC Public Inquiries Office.
Customer Reviews of TLC Investments
A quick online search reveals that TLC Investments has received many negative reviews from customers who claim to have lost money or been scammed by the company. Some of the common complaints include:
– TLC Investments uses high-pressure sales tactics and promises unrealistic returns
– TLC Investments charges hidden fees and commissions that are not disclosed upfront
– TLC Investments does not provide any proof of transactions or statements
– TLC Investments does not allow customers to withdraw their funds or close their accounts
– TLC Investments does not respond to customer inquiries or complaints
– TLC Investments uses fake testimonials and endorsements from celebrities or experts
Products and Services Offered By TLC Investments
TLC Investments claims to offer a variety of investment products, such as:
– Stocks: Shares of companies that trade on stock exchanges
– Bonds: Debt securities that pay interest and principal at maturity
– Commodities: Physical goods such as gold, oil, wheat, etc.
– Forex: Foreign exchange trading of currencies
– Cryptocurrencies: Digital assets that use encryption to secure transactions
– Binary Options: Contracts that pay a fixed amount if a certain condition is met
However, these products are not regulated or authorized by the ASC, and may not exist at all. TLC Investments may be using these products as a cover for a Ponzi scheme, where they use new investors’ money to pay off old investors, or for money laundering, where they transfer funds from illegal sources to legitimate ones.
Location of TLC Investments
TLC Investments claims to have offices in Canada, the United States, the United Kingdom, Australia, and Hong Kong. However, these locations may be fake or misleading. For example, the address listed for the Canadian office is a virtual office service that provides mail forwarding and phone answering services. The phone number listed for the Canadian office is a VoIP number that can be used from anywhere in the world. The website domain for TLC Investments is registered in Panama, a known tax haven and secrecy jurisdiction.
Customer Service Provided By TLC Investments
TLC Investments claims to provide 24/7 customer service via phone, email, live chat, and social media. However, many customers have reported that they are unable to reach anyone from the company when they have questions or issues. Some customers have also reported that they have been blocked or ignored by TLC Investments after requesting a withdrawal or filing a complaint. Some customers have also reported that they have received threats or harassment from TLC Investments when they tried to expose their scam.
Defensive Measures Against Fraudulent Brokers
Investors who are considering investing with TLC Investments or any other company should take some defensive measures to protect themselves from fraudulent brokers. Some of these measures include:
– Doing your own research and due diligence before investing with any company
– Checking the registration status and disciplinary history of any person or company offering securities or derivatives using the National Registration Search tool on the Canadian Securities Administrators website
– Asking for written documentation and verification of any transactions or statements
– Being wary of unsolicited offers, high-pressure sales tactics, unrealistic returns, or guarantees
– Never send money or personal information to anyone you don’t know or trust
– Reporting any suspicious activities involving securities or derivatives to the ASC Public Inquiries Office
Conclusion
TLC Investments is a company that claims to offer high returns on various investment products, but the ASC has warned that it is not registered to trade in or advise on securities or derivatives in Alberta. The company may be involved in fraudulent or illegal activities and has received many negative reviews from customers who claim to have lost money or been scammed by them. Investors should exercise caution when dealing with TLC Investments, and take some defensive measures to protect themselves from fraudulent brokers. Investors should also seek independent financial advice from a registered professional before making any investment decisions.
